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Thursday, October 20, 2011
Sensex falls on global jitters...IT shares recover
Sensex ended at 16,936, down 148 points. Nifty closed at 5,092, down 47 points.
After witnessing a strong rally in the previous session, the benchmark Indian indices ended in the negative terrain on Thursday, tracking weak cues from the international equity markets. The US markets ended with losses after a weak assessment of the US economy by the Federal Reserve in it's Beige Book survey.
The European markets also were trading in the red amid reports that European leaders are still divided on the issue of expanding the eurozone rescue fund ahead of this weekend's important summit in Brussels. It may be recalled that contradicting reports had emerged on Wednesday about a reported agreement between Germany and France over the expansion of the EFSF.
Sensex closes 148 points lower on global woes
After posting strong gains in the previous trade, the Indian markets fell today on concerns of economic crisis in the Europe
Major Headlines
Food inflation at 10.6% versus 9.32%
Housing finance companies shares witness pressure
Bajaj Auto declines after Q2 results
Biocon Q2 net profit falls by 22%
Exide Industries hits monthly low after Q2 results
BSE Bulk Deals to Watch - Oct 20 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
20/10/2011 508869 Apollo Hosp THE BANK OF NEW YORK MELLON A/C INTEGRATED (MAURITIUS) HEALTHCARE B 4093860 513.00
20/10/2011 508869 Apollo Hosp BISIKAN BAYU INVESTMENTS (MAURITIUS) LIMITED S 4093860 513.00
20/10/2011 531560 Aroma Enterprises CHHOTALAL SHAH MAHENDRA B 45000 81.74
NSE Bulk Deals to Watch - Oct 20 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
20-Oct-11,FLEXITUFF,Flexituff Inter Limited,CHANDARANA INTERMEDIARIES BROKERS P. LTD,BUY,191509,166.37,-
20-Oct-11,FLEXITUFF,Flexituff Inter Limited,GKN SECURITIES,BUY,188620,165.17,-
20-Oct-11,FLEXITUFF,Flexituff Inter Limited,MADHUVAN VINCOM PRIVATE LIMITED,BUY,152055,159.12,-
20-Oct-11,FLEXITUFF,Flexituff Inter Limited,MARU SECURITIES PVT LIMITED,BUY,159393,155.95,-
20-Oct-11,FLEXITUFF,Flexituff Inter Limited,MUSKAN AGENCIES AND TRADING LTD,BUY,604727,164.76,-
20-Oct-11,FLEXITUFF,Flexituff Inter Limited,PRIME SECURITIES LTD,BUY,250000,165,-
20-Oct-11,FLEXITUFF,Flexituff Inter Limited,R.M. SHARE TRADING PVT LTD,BUY,190317,164.87,-
20-Oct-11,FLEXITUFF,Flexituff Inter Limited,SWATI RAJESH SHAH,BUY,119320,163.59,-
Nifty November 2011 futures at premium
Turnover surges
Nifty October 2011 futures were at 5105.45, at a premium of 13.55 points over spot closing of 5091.90. Nifty November 2011 futures were at 5121.90, at a premium of 30 points over spot closing. Turnover on NSE's futures & options segment surged to Rs 159182.05 crore from Rs 137726.54 crore on Wednesday, 19 October 2011.
State Bank of India (SBI) October 2011 futures were at 1939, at a premium over spot closing of 1933.90.
M and B Switchgears soars on debut
Ends at Rs 317.55 on BSE
Shares of M and B Switchgears settled at Rs 317.55 on BSE, a sharp premium of 70.73% over the initial public offer price of Rs 186.
The stock debuted at Rs 180, a discount of 3.22% to the initial public offer (IPO) price. The stock hit a high of Rs 356 and low of Rs 118.65. On BSE, 2.65 crore shares were traded on the counter.
M and B Switchgears' initial public offering (IPO) was subscribed 1.57 times and got bids for 78.43 lakh shares. The IPO remained open for bidding between 28 September 2011 and 5 October 2011. The price band for the IPO was Rs 180-186 per share.
Sensex falls below 17,000 as food inflation accelerates
Key benchmark indices edged lower in choppy trade as the latest data showing acceleration of food inflation early this month raised prospects of more rate hikes from the central bank to tame inflation, which remains uncomfortably high. The barometer index BSE Sensex fell below the psychological 17,000 mark. Nevertheless, the market staged a strong intraday rebound as European shares moved off lows and as US index futures rose. The Sensex shed 148.45 points or 0.87%, up close to 190 points from the day's low and off about 25 points from the day's high. Index heavyweights Reliance Industries and L&T came off lows. Steel stocks recovered. IT stocks also came off lows on a weak rupee.
Markets may start lower on Europe uncertainty
Heightening concerns over the euro debt crisis may drag the Indian markets in the opening trade. M&B Switchgears will list today
Headlines for the day
Mining Bill to introduce royalty at a concession
RBI rules for new bank licences likely by Nov-end: FinMin
Punj Lloyd's plea for ONGC contract dismissed by Bom HC
Maruti rolls out 200 cars from Manesar unit amid strike
Everonn gets nod to dilute 12% to Varkey
Daily Market Strategy - Oct 20 2011
Coromandel International has finalised plans to set up a greenfield Single Super Phosphate plant in Punjab at a cost of Rs1.16bn. (BL)
Gujarat NRE Group has received the go-ahead from the NSW Planning Assessment Commission for its US$122mn upgrade of infrastructure at NRE-1 mine in Russel Vale, Australia. (BL)
Hero MotoCorp is increasing output of its three plants in North India to around seven million units by March 2012 to meet the growing demand for fuel-efficient two-wheelers. (BL)
TCS will provide a range of technology outsourcing services to the Commercialbank of Qatar as part of a five-year deal worth ‘tens of millions of dollars'. (BL)
Getting closer to events
There are two things to aim at in life: first, to get what you want; and, after that, to enjoy it. Only the wisest of mankind achieve the second. – LP Smith.
Two big events are lined up in the run up to Diwali. First up will be the eurozone summit in Brussels on October 23. Expectations are running high on some sort of a deal on taming the debt crisis. However, scope for disappointment remains given the track record of the European leaders.
Second important event of course will be the RBI meet on Oct. 25. Calls for a pause have been growing for a while. The FM too has accepted difficulty in meeting key goals like GDP, fiscal deficit and disinvestment. At the same time, the Oil Minister has dismissed talk of a cut in fuel prices citing weakness in the Rupee. The RBI’s approach will be closely watched.
Market may edge lower on weak Asian stocks; food inflation data eyed
The market may edge lower in the opening trade, tracking weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 51 points at the opening bell. Biotech major Biocon will be in focus after the company reported 5% growth in consolidated net profit in Q2 September 2011 after trading hours on Wednesday, 19 October 2011. Bajaj Auto, Cairn India, UltraTech Cement, Exide Industries and Thermax unveil quarterly results today, 20 October 2011.
On the macro front, the government will today, 20 October 2011, unveil data on some wholesale price indices viz. the food price index, the primary articles index and the fuel price index for the year through 8 October 2011.
BSE Bulk Deals to Watch - Oct 19 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
19/10/2011 531560 Aroma Enterprises CHHOTALAL SHAH MAHENDRA B 24700 85.00
19/10/2011 531560 Aroma Enterprises NISHITH BABULAL SHAH B 48000 83.50
19/10/2011 531568 Ashutosh Paper KPM INFOTECH PRIVATE LIMITED B 44600 173.50
19/10/2011 531568 Ashutosh Paper ANITA S 40000 173.50
19/10/2011 532645 Beeyu Overseas HITESH RAMJI JAVERI B 78130 2.99
NSE Bulk Deals to Watch - Oct 19 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
19-OCT-2011,FLEXITUFF,Flexituff Inter Limited,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,178365,160.66,-
19-OCT-2011,FLEXITUFF,Flexituff Inter Limited,ALL CITY TRANSPORT INDIA PRIVATE LIMITED,BUY,405000,156.01,-
Heavyweights push Sensex 337 points higher
All-round buying helped the markets to bounce back after two-day fall, with heavyweights providing major support The Sensex rose 337 points and the Nifty surged 102 points
Major headlines
FM says growth will be slower than expected
HDFC Bank Q2 net profit jumps by 31%
Hindustan Zinc Q2 net profit rises by 42%
Bajaj Finance Q2 net profit soars by 66%
Hero Motocorp soars on strong Q2 results
Nifty October 2011 futures above 5100
Turnover surges
Nifty October 2011 futures were at 5146.35, at a premium of 7.20 points over spot closing of 5139.15. Turnover on NSE's futures & options segment surged to Rs 137726.54 crore from Rs 122386.39 crore on Tuesday, 18 October 2011.
State Bank of India (SBI) October 2011 futures were at 1914.85, at a premium over spot closing of 1909.25.
Taksheel Solutions ends with 63% discount
At Rs 55.85 on BSE
Shares of Taksheel Solutions settled at Rs 55.85 on BSE, a discount of 62.77% over the initial public offer price of Rs 150.
The stock debuted at Rs 157.40, a premium of 4.93% to the initial public offer (IPO) price. The stock hit a high of Rs 185 and low of Rs 38.50. On BSE, 3.76 crore shares were traded on the counter.
Flexituff International settles with 7% premium
At Rs 166.40 on BSE
Shares of Flexituff International settled at Rs 166.40 on BSE, a premium of 7.35% over the initial public offer price of Rs 155.
The stock debuted at Rs 155, at par with the initial public offer (IPO) price. The stock hit a high of Rs 185.40 and low of Rs 142. On BSE, 1.75 crore shares were traded on the counter.
Sensex, Nifty settle at highest level in over 4 weeks on euro-zone bailout fund hopes
Good Q2 results from Hero MotoCorp and HDFC Bank helped key benchmark indices clock smart gains a day after the market fell 1.63% on Tuesday, 18 October 2011, on disappointing earnings from IT majors TCS and HCL Technologies. The barometer index BSE Sensex regained the psychological 17,000 level. The Sensex and the 50-unit S&P CNX Nifty reached their highest closing level in more than four weeks. The Sensex jumped 337.05 points or 2.01%, up close to 210 points from the day's low and off close to 20 points from the day's high. Gains for European shares triggered by hopes for progress on expansion of the euro zone's rescue fund, underpinned sentiment.
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